Reckitt Benckiser's Chief Executive Rakesh Kapoor got a 69 percent pay rise last year, following an improvement in the company's performance after three tough years. So it was a 2.5% uplift. Yes, we are very satisfied with the level of investment that we have put behind R&D, investments behind supply chain. The chief executive of Reckitt Benckiser saw his pay package almost double last year to more than 23m. His salary for 2015 was 23.2 million. A win for sustainability. Reckitt Benckiser employees rate the overall salary and benefits package 3.9/5 . If I didn't have those innovations coming to the market, we don't see an additional BEI. For Indian consumers, Harpic is synonymous with toilet hygiene. A lot of this has to do with being in the right categories. Gross pricing actions across all regions for Nutrition in the year was around 8%. Nicandro is a highly experienced CEO who led the transformation of BAT over a nine-year period. And it's too early to call this a rebasing of the category, but it certainly looks to us to be stabilizing well above pre-pandemic levels. And then the second question, just thinking through the headwind from U.S. infant formula unwind in '23. Reckitt said Durante will move from Brazil to the UK and receive relocation expenses and a salary of 1.1 million ($1.3 million). The Chairman and the Nomination Committee have begun the process to identify the best long-term candidate to take Reckitt on the next phase of its growth and transformation journey. We are sorry for the inconvenience. I'm very pleased that adjusted operating profit reached 3.4 billion, up 9.2% versus last year at constant currency with a margin of 23.8%, up 90 basis points versus 2021. Be part of something bigger. And this has increased our market share of the non-WIC formula market from 38% at the beginning of '22 to almost 50% in December. Tom Sykes from Deutsche. We will continue to focus on capacity and agility within our supply chain and ensure that we keep delivering for both our customers and consumers. We create simple, innovative products that make it easy for individuals, families and communities to live healthier and happier. There will be less fixed cost in the Company, because we are working very hard in our productivity programs. See the latest news and investor news from Reckitt. And thank you, Nicandro. Another building block was the improvement in our business in the area of sales execution. This had a significant impact on top line growth and on our adjusted operating profit margins. In this episode of the Inside the Strategy Room podcast, senior partner Celia Huber speaks with Laxman Narasimhan, the CEO of Reckitt Benckiser. The innovation is coming, R&D. In January 2019, Reckitt Benckiser announced that Kapoor is set to retire by the end of 2019. Reckitt Benckiser CEO Laxman Narasimhan to step down . 45. Our best-in-class program continues to deliver with efficiencies of 800 million during the year, enabling us to achieve our target of 2 billion gross margins this year. The two areas that are winning is the high tier, where you get better value, then some dent on the very low tier or smaller sizes and the mid-tier is the one that is struggling. Please. Having the trust of HCPs is critical as it is the HCPs who interact with parents and help them make the choice of the right formula for their babies. A win for our consumers, they enjoy better results as Vanish gets the tough job done and hence keeps clothes looking like new for longer. So at an operating margin level, our business in Latin America and ASEAN, the two regions where we're really strong is somewhat similar. Registered office at 103 - 105 Bath Road, Slough, Berkshire, SL1 3UH, Registered in England & Wales, No 6270876, Copyright Reckitt Benckiser Group PLC. "Reckitt was getting its mojo back. We have strong, trusted, market-leading brands across the categories we compete in. Starbucks' incoming CEO, Laxman Narasimhan, had a trial by fire after taking the helm of Reckitt just before the pandemic hit. It's been obviously a stellar year this year. After a few years of holding the dividend flat, we're now proposing to increase our total dividend by 5% this year with the intention to sustainably grow dividends in future years, subject to any significant internal or external factors. Thank you very much for coming over. Growth was driven by a very strong progress in Auto Dish, Fabric Additives and Lavatory Care. LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher . I'm pleased to say that we have done so. Back . It is a great pleasure to see many of you -- many of them that I know from my past. And I'm not really looking for consensus to change when it comes to margins. This announcement is made by Catheryn ORourke, Company Secretary, for Reckitt Benckiser Group plc. If we break out our total GBU growth in 2022, our underlying business grew around 5%. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that he is being appointed on a rolling contract with six months' notice on . This results in a dividend per share of 183.3p for the year. I think that's unheard of in the last years. Each salary is associated with a real job position. And with that, I'll hand over to Pat to talk about our excellent Nutrition business. And our teams have become much, much better, much more adept at navigating that. The work the team did across our supply chain and with all key stakeholders, including the U.S. administration, was exceptional. Underpinning this financial delivery were further execution improvements across our supply chain. We mentioned this to you last year when we initially launched the product. Now we have five members of our Global Executive Committee presenting to you today, following which they'll be happy to take any Q&As that you may have. This compared to 24.9% in 2021 with a slight decline coming from a negative mix impact as Nutrition has a lower ratio, but has delivered strong growth during the year. Enfamil is now the number one most trusted brand, both by parents and health care professionals. Last year alone, more than 20%, driven by increased go-to-market coverage, strengthened brand building, and our new premium 10x line. But we really don't know what the future season holds, and it's too early to speculate on that. The remainder of the portfolio grew in the year 5.1%. We also made very good progress regionalizing our supply chain. They offer attractive growth opportunities as their global penetration is low, yet growing, and they offer an attractive margin profile. Our agile and resilient supply chain increased output by 30% on average across our OTC portfolio to help us meet the strong demand for our products. We lost, what, 20 basis points for private label last year in Hygiene; we gained 20 basis points in Health. So moving on now to Nutrition. The pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. And something that we have negotiated with customers, has been well received so far. Thank you, Pat. read more. After three years as chief executive officer, he's decided step down on Sept. 30. ", The British consumer goods group raised its annual revenue forecast in July after steep price increases helped the company to beat its second-quarter sales expectations. Having held the dividend for some time, we thought that was the right step to take this year. However, Lysol is much stronger now than pre-pandemic. This means operating in a responsible and sustainable way while innovating products that improve lives while reducing environmental impacts. los inconvenientes que esto te pueda causar. Narasimhan will be replaced temporarily by senior independent director and former BAT boss Nicandro Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement. Our DNA is to create and grow categories through consumer-preferred innovation and growing penetration. And I like competition on making that category grow. And clearly, that's starting to enter into the territory that we talk about as looking to have surplus cash. Firstly, we grew our North American business by around 40% in the year. Our productivity muscle remains firmly embedded within the DNA of record and will continue to drive our earnings model in the future. These awards remained subject to PepsiCo's performance conditions and full details can be found on page 125 of the 2019 Annual Report. So can you please talk about what kind of actions you're taking to make Reckitt a reliable earnings compounder it once was? Almost 18% of shareholders who voted rejected the company's remuneration report, Reckitt Benckiser said in a statement Thursday after its annual general meeting in London. And I think that if we hadn't done that, I think that during the last three years, it would have been impossible to manage the business, mainly in terms of supply chain capabilities that we created and things like that. RASHIDEEN EGYPT FOR TRADE CO. (L.L.C) (Mondelz international, reckitt benckiser & Bel Distributor) . Outside of China, Intimate Wellness grew 10%. Explore our global sites with local content specific to each country. And we continue to embed our sustainable ambitions with our business through our brands, in our supply chains, and in communities where we work. Less clothes go into landfill and consumers can get results at much lower temperatures. So -- and we think that level of around minus 11% is the right level in terms of having the right levels of inventory, the right level of safety stock, the right service levels into the trade, having the right terms with our suppliers and not extending small suppliers too far. Your question is specifically on hygiene, I understand. Under his leadership, Reckitt will continue to implement its current successful strategy. We had single-digit inflation. We are planning for that. We haven't been able to introduce prices last year because of the situation that we were there when the price has gone through already. And our allergy brand, Nutramigen, is the number one selling allergy brand in North America. We have a very strong productivity program coming in '23, and it is going to find us the increase in BEI, to be honest with you. It's Iain Simpson from Barclays. The United States is the largest market and makes up around half of our global business. But underlying, we see opportunities to continue to improve the margins on that business. And how should we think about those trends into the first half? Let me, Iain, address the guidance question. We're now generating around $200 million of POS in the U.S. alone. I am therefore pleased that 2022 was a year of delivery and momentum for Reckitt. We have continued sustainable product innovation program. Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. But I now feel we have returned to a more normalized position with working capital at a sustainable level at around minus 11% of net revenue, and we're confident of delivering strong future cash flows and high cash conversion in the coming years. Three years ago, we started our journey to rejuvenate sustainable growth at Reckitt. Available in nearly 200 countries, our brands are loved and trusted by people all over the world. And we've made a reasonably, I think, appropriate and conservative assumption around what we can sell in the coming year. Pay is salary, bonuses, etc. As we look to 2023, we are well-positioned to sustain this momentum from a larger, stronger base. I have been to many markets since I started as a CEO, and it has been a delight to see the engagement and the energy of our teams around the world exhibited every day, day in, day out, making Reckitt a great place to work. Our transformation is bearing fruits. Narasimhan, 55, joined the company in September 2019 from PepsiCo (PEP.O) and was the first external candidate to take the helm at Reckitt since it was formed in 1999. I don't see any big movement in retailers stocking. But in summary, our pricing action, favorable mix, especially due to stronger OTC sales, and our excellent productivity initiatives meant we recovered some 90% of the cost of goods inflation during the course of the year. If there's any change, then we'll come back and we'll give you that update in those intervals. As Nicandro stated, we're now bigger, a stronger business and will continue to grow now from this expanded base. Dettol grew net revenues two out of the four quarters of the year, including in Q4. However, we remain excited by the growth opportunity with Biofreeze. How could the leader of a company that makes an array of mundane household products, like Dettol, Air-Wick and Strepsils, be worth so much Dhaka, Bangladesh. I think one of the big inflection points was where we exited our business in China. We have a strong global presence. A spokesperson for Reckitt Benckiser (RB) confirmed the top deck . It's Jeremy Fialko, HSBC. Please enable Cookies and reload the page. With this innovation, Enfa becomes the only product with MFGM, expert-recommended levels of DHA, and HMOs, delivering on the benefits that parents want most: better mental development, digestion, and immunity. And similarly on margin, we're not uncomfortable with consensus on margin, which implies, yes, we'll keep an element of that 80 basis points. And in fact, it's been relatively immaterial in the last months anyways as shelfs became more stocked with competitive product. Once we have wrapped up, we will be delighted to take any questions you may have. Listen, I'll ask Pat to answer the first question. . Sept 1 (Reuters) - Reckitt Benckiser (RKT.L) Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, taking investors by surprise and sending its share price down sharply. Moving on to our people. Let's start from there. And then the final one is for Nicandro. So this additional revenue stream to WIC will be zero from March onwards. You asked, Celine, the question on -- obviously, we still go down in quarter one. And if you might end up seeing some sort of reduced flu incidence, then what your assumptions are in terms of guidance? Chairman Chris Sinclair and the nomination committee have started the process to identify "the best long-term candidate to take Reckitt on its next phase of growth", the company said. Importantly, POS remained well above pre-pandemic levels, and we exited quarter four with POS in the high 40s above 2021. Please help us protect Glassdoor by verifying that you're a I think on working capital, we've had a pattern. "It's disappointing to someone who has followed the stock for a long time," said Ashish Sinha, portfolio manager at Reckitt shareholder Gabelli. Nutrition business. Our growth continues to grow very nicely, and we have much more headwind -- headroom, not headwinds, tailwinds -- headroom, and growth also with the innovation that is coming. See the latest news and investor news from Reckitt. That's a nice category to be in. So is that a sort of maximum or is that a sort of best guess as the outcome at the moment? But you see, by our margins guidelines and everything else, that it's not going to have a huge setback in terms of to expect the business to deliver. Although there are important differences between ASEAN and LATAM and North America, how we go to market is much more homogenous, and that's allowed us to really drive focus and strengthen our go-to-market capability, particularly with how we interact with professionals. And I'm pleased to say that we've created a business over the last three years, which is 1.4 billion larger than it was in 2019. What gives you confidence that your industry-leading margins will not come under pressure from an evolving competitive environment? Good morning, everyone. A few years ago, we introduced essential mist diffusers in the U.S. By now a $100 million POS segment, and our share is above 90%, and this segment keeps growing. I know maybe more like 1.5% or 2% this year. So we think that's a good position to be in. We wish him and his family all the very best as he fulfils his desire to return to the United States. Executive Summary. Half of Reckitt salaries are above $129,256. As Volker highlighted, if you exclude Lysol, which I think that's much less to do with elasticity than high comparators because of COVID, the whole Hygiene portfolio grew pricing was, I think, that around 8% and volume was down 4%. Over the next three years, Reckitt has grown at an average of 8.2% on a like-for-like net revenue basis or 7.4%, excluding the benefit from a temporary competitor supplies issue in the U.S. Third, we continue to strengthen our capabilities everywhere. Moving to our Dettol portfolio. Hours: 40 hours per week Monday to Friday no weekends Location: Hull, Humberside - East Yorkshire When you see the world as we do, you see the chance to help the world take better c . Join our pursuit for a cleaner, healthier world. Lamentamos It's Alicia Forry at Investec. 70% Approve of CEO. But we do see that COVID is becoming endemic. The first one, Kris, would you like to take it? I talked about our -- out of this category, we are holding share, but we're growing double digits. Continuing to drive this great earnings model remains a core priority for me and my team. 1,593 salaries (for 648 job titles) Updated 3/1/2023. The global dishwashing machine penetration is below 15%. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Celine Pannuti from JPMorgan. Our brands are available in nearly 200 countries. By Richa Naidu LONDON (Reuters) - Reckitt Benckiser, maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher . Going forward next year, you know that interest cost is going up a little bit, not for us, but for the whole world, unfortunately. We've given clear guidance, and we're comfortable with consensus. Laxman Narasimhan cleaned up Reckitt Benckiser Group Plc but he's not staying around to admire the shine at the maker of Dettol and Durex. Now I'm going to dive a little bit deeper into how we are growing our three biggest categories that all generate well above 1 billion in retail sales. All in all, our teams have dealt with the challenges very well. So I expect a better trend going for '23. Like-for-like growth for the year was 14.7% and 6.7% for the quarter with much stronger comps in the fourth quarter of last year. And BEI as a percentage of net revenue was down 80 basis points. Now I'd like to look at the breakdown of group margins in a little bit more detail. Rakesh Kapoor's pay soared thanks to a share-based bonus linked to the performance of the . Reckitt Benckiser Group plc (Reckitt) today announces that its CEO, Laxman Narasimhan will step down as Chief Executive Officer on September 30, 2022. And we have an exciting innovation pipeline for the years to come. Like-for-like net revenue growth in the quarter was 6.2% with improving trends in Hygiene, which returned to growth in the quarter, and the strong performance in Health and Nutrition. Laxman said, "I am very grateful to have had the opportunity to lead Reckitt. Laxman has decided for personal and family reasons to relocate back to the United States and has been approached for an opportunity that enables him to live there. I was till Sept 2019 Global CEO of RB (Reckitt Benckiser), a 13 billion global leader in consumer health and hygiene company, with Powerbrands such as Enfamil, Dettol, Lysol, Nurofen, Durex, Finish, Vanish and Strepsils. According to our data, the highest paying job at Reckitt Benckiser is a Project Engineer at $220,000 annually while the lowest paying job at Reckitt Benckiser is a Regional Manager at $25,000 . Another example is Vanish, the number one global stain removal. Is this happening to you frequently? But I think that the innovation comes to strength of our portfolio, to be able to keep performing as we are performing. The team and I are very focused on continuing this in 2023 and beyond. Now as Nicandro and Jeff mentioned, 2022 was an extraordinarily challenging year. Apply online for Careers at Reckitt: Human Resources Jobs, Supply Jobs, Marketing Jobs, Finance Jobs, Legal Jobs, Manufacturing Jobs, Sales Jobs, IT Jobs, Manufacturing Jobs, and more. Half of our managers at Reckitt are women and a third of all senior leaders. Brand equity investments were up 5.7% at actual rates and essentially flat at constant currency. Si continas viendo este mensaje, We are now in the last quarter of very tough comps with Omicron in the base period. Reckitt Benckiser average salary is $90,908, median salary is $88,417 with a salary range from $41,600 to $238,500. All remuneration arrangements are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the AGM in May 2022. This improvement in net debt, underpinned by strong free cash flow, has enabled us to deleverage to 2.1x adjusted EBITDA from 2.6x. You used to have industry-leading margins in Nutrition. So it's a little bit of a strong flu season, but we expect the brands to continue to grow with that kind of pipeline of innovations that we have. U.S. consumers now have a new way to treat sore throats with the launch of Mucinex InstaSoothe. . It won't be easy to comp this strong performance, but we are up for the task. Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante. This was a very stable and resilient performance in the face of very high inflationary pressures. Thank you for joining us. As a result, Reckitt has delivered a best-in-class three-year like-for-like revenue CAGR. Founded: 1819-1823 in UK by millers Isaac and Thomas Reckitt, and Johann A Benckiser, industrial chemicals business owner Presence: 60 countries, with 37,000 employees Sources: RB website . That's what I'm targeting at least, and that's what I'd like to deliver. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. . om ons te informeren over dit probleem. Auto Dish has enormous penetration upside. In terms of the profitability of the WIC versus non-WIC that you gained, are those broadly comparable? Now we're not giving specifics as to whether we take -- what percentage of that we retain because clearly, Abbott will come back into the market very strong and fight very hard to gain back market share. So thank you. Is the business profitable over there? But just relying on category growth is not enough. A perfect example of our win, win, win, win model. We now feel we're stable. And what we have also seen in previous crisis is that there is normally always two areas that win and one that's losing. They account for about 90% of our revenues and an even bigger part of AOP. I will now hand over to Jeff to take you through our financials in more detail and our outlook for 2023. Thank you, Jeff. We delivered double-digit three-year CAGR, and we keep growing at that pace. And with pricing actions stronger in the second half of the year, this really positions us favorably as we look to 2023. But listen, you have to understand that in majority, our categories are not inelastic. Our growth is broad-based in all categories and all geographies, and we are earning industry-leading margins. 86% Approve of CEO. Nicandro Durante - Chief Executive Officer You look at, for example, fabric treatment with Vanish, 11% price up, 1% volume up. So therefore, we really are very confident that post quarter one, we return back to growth on Lysol. Okay. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 sales received from the recall of a rival's infant . We are the market leader with our brands. It is difficult to know exactly how much of this increased share we will retain. Net revenue for the year at 2.5 billion was up 19.4 basis points on a like-for-like basis in the quarter and 22.9% for the year, with the U.S. being up around 40% in the year. That's one point. Can you discuss the drivers of multiyear margin expansion, of course, beyond easing cost pressures? Reckitt Benckiser Group today announced that its CEO Laxman Narasimhan will step down from his position on September 30, 2022, and will relocate to the United States, for personal and family reasons. And now we're running -- in most of the markets that we track that data pretty closely where we compete, we're running just above average levels. Whilst we deliver a strong 2022, it is important to reflect on the journey we have taken over the last three years following the announcement of our strategy to rejuvenate sustainable growth at Reckitt. As I mentioned, our categories are pretty well underpenetrated and have massive upside there, too. Our e-commerce business represents 13% of our total net revenue, and we have plans to further increase this percentage in the coming years. Also sponsored Reckitt's strategic PLM programme and ERP transformations. Participate in conducting annual salary survey and perform such other relevant HR surveys. So some of these opportunities are really in our plans and we are looking at that. Reckitt has invested significantly behind organic and inorganic growth opportunities in recent years. Editing by Krishna Chandra Eluri, Matt Scuffham and David Goodman, Exclusive: Russia set to mothball damaged Nord Stream gas pipelines - sources, Exclusive: IndiGo pits Boeing against Airbus in record jet order talks, Air Canada pilots decry 'embarrassing' pay gap with U.S. after Delta deal, Ford looking at ways to boost gas-powered F-150 production, Exclusive news, data and analytics for financial market professionals. It's very non-elastic. Volume growth was strong, up 6.5% for the year, with the impact of price and mix of 8.2% for the year, of course, benefiting from favorable sales mix from OTC, which grew over 35% in the year. Now COVID has caused some volatility in our cash flows. Onze Yes. We have a strong presence in developing markets with our disinfection business, Intimate Wellness brands and a fast-growing smaller VMS and OTC business.
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